Ethereum Exchange Outflows vs Inflows July 2026: What the On-Chain Data Shows
$68.7B in deposits vs $66.5B in withdrawals over 30 days. Net inflow to exchanges of -$2.26B. 8 of 30 days recorded net outflows. The full daily CEX flow breakdown from Deep Blue Alpha tracked wallets.
Published 2026-07-05 · Updated 2026-07-05 · Deep Blue Alpha
Over the 30 days ending July 5, 2026, Deep Blue Alpha tracked $68.7 billion in deposits to centralized exchanges versus $66.5 billion in withdrawals, producing a net inflow to exchanges of −$2.26 billion. Deposits exceeded withdrawals on 22 of 30 days. However, 8 days recorded net outflows (withdrawals exceeding deposits), including a +$864.7M single-day outflow on June 26 and +$445.9M on June 8.
The data shows a clear weekday vs weekend pattern: weekday average daily volume ran at $5.22B (deposits + withdrawals combined) with ~23,600 active wallets, while weekends averaged $1.50B with ~13,700 wallets. The single busiest day was June 30 (end of quarter) at $8.08B total flow from 38,925 wallets. The quietest was July 5 at $422.8M from 6,159 wallets.
Live exchange flow data at deepbluealpha.io/whales-buying-today. All numbers from DBA tracked wallets, pulled July 5, 2026.
The 30-day exchange flow picture
Between June 6 and July 5, 2026, Deep Blue Alpha’s tracked wallet infrastructure recorded $68.7 billion in deposits to centralized exchanges and $66.5 billion in withdrawals. The net result: −$2.26 billion, meaning more capital entered exchanges than left them over the full 30-day window. Deposits exceeded withdrawals — a net inflow to exchanges.
That aggregate number tells one story. The daily breakdown tells another. The 30-day net was not a steady drift in one direction. It was the sum of sharp daily reversals — eight days of net outflows fighting against twenty-two days of net inflows, with individual daily swings ranging from +$864.7M in net outflows to −$841.6M in net inflows.
The largest single-day net outflow was June 26: +$864.7M withdrawn more than deposited, across 28,240 active wallets. The largest single-day net inflow was June 30: −$841.6M deposited more than withdrawn, across 38,925 wallets — the busiest day in the entire sample by both volume and wallet count. The end-of-quarter timing on June 30 is notable: institutional rebalancing, futures rollovers, and portfolio squaring all concentrate flow on calendar boundaries.
30-day exchange flow summary — June 6 to July 5, 2026
| Metric | Value | Context |
|---|---|---|
| Total deposits (inflows) | $68.7B | Capital moved TO exchanges |
| Total withdrawals (outflows) | $66.5B | Capital moved FROM exchanges |
| Net flow | −$2.26B | Deposits exceeded withdrawals |
| Days with net outflow | 8 of 30 | Withdrawals > deposits |
| Days with net inflow | 22 of 30 | Deposits > withdrawals |
| Largest single-day outflow | +$864.7M | June 26, 2026 (28,240 wallets) |
| Largest single-day inflow | −$841.6M | June 30, 2026 (38,925 wallets) |
| Peak daily active wallets | 38,925 | June 30 (end-of-quarter) |
| Lowest daily active wallets | 6,112 | June 29 (Sunday) |
Key context: “Net inflow to exchanges” means deposits exceeded withdrawals. Historically, sustained net inflows have been associated with increased selling pressure — capital is moved to exchanges where it can be sold on order books. Conversely, net outflows have been associated with accumulation or self-custody. However, flow direction alone does not confirm intent. Deposits fund derivatives, staking, and lending in addition to spot selling.
Weekly breakdown: where the flow reversed
Breaking the 30-day window into weekly segments reveals that the net direction was not consistent. The aggregate −$2.26B net inflow was not evenly distributed — individual weeks told very different stories.
Week 1 — June 6–12, 2026
| Day | Deposits | Withdrawals | Net | Wallets |
|---|---|---|---|---|
| Jun 6 (Fri) | $1.78B | $2.11B | +$323.2M | 19,702 |
| Jun 7 (Sat) | $1.24B | $1.15B | −$91.2M | 16,850 |
| Jun 8 (Sun) | $3.39B | $3.84B | +$445.9M | 25,329 |
| Jun 9 (Mon) | $3.42B | $3.29B | −$126.3M | 24,339 |
| Jun 10 (Tue) | $2.37B | $2.30B | −$70.6M | 22,401 |
| Jun 11 (Wed) | $3.21B | $2.41B | −$797.8M | 23,796 |
| Jun 12 (Thu) | $4.09B | $3.63B | −$467.4M | 23,628 |
Week 1 net: −$784.2M (deposits dominated). Two outlier outflow days (Jun 6, Jun 8) partially offset the heavy inflow days.
Week 2 — June 13–19, 2026
| Day | Deposits | Withdrawals | Net | Wallets |
|---|---|---|---|---|
| Jun 13 (Fri) | $953.7M | $918.5M | −$35.2M | 15,232 |
| Jun 14 (Sat) | $978.1M | $928.9M | −$49.2M | 14,619 |
| Jun 15 (Sun) | $2.79B | $2.84B | +$49.4M | 24,826 |
| Jun 16 (Mon) | $2.76B | $2.75B | −$9.2M | 22,664 |
| Jun 17 (Tue) | $1.63B | $1.45B | −$188.2M | 22,906 |
| Jun 18 (Wed) | $3.40B | $3.28B | −$116.5M | 23,750 |
| Jun 19 (Thu) | $1.23B | $1.30B | +$67.3M | 20,217 |
Week 2 net: −$281.6M (mild inflows). Near-balanced week with small daily movements in both directions.
Week 3 — June 20–26, 2026
| Day | Deposits | Withdrawals | Net | Wallets |
|---|---|---|---|---|
| Jun 20 (Fri) | $841.2M | $750.6M | −$90.7M | 15,129 |
| Jun 21 (Sat) | $936.2M | $716.2M | −$220.0M | 13,904 |
| Jun 22 (Sun) | $3.50B | $2.80B | −$700.6M | 21,943 |
| Jun 23 (Mon) | $2.59B | $2.46B | −$132.9M | 23,619 |
| Jun 24 (Tue) | $3.03B | $2.53B | −$498.8M | 26,737 |
| Jun 25 (Wed) | $2.52B | $2.66B | +$142.7M | 28,117 |
| Jun 26 (Thu) | $2.94B | $3.80B | +$864.7M | 28,240 |
Week 3 net: −$635.6M. The week started with heavy inflows (Jun 22 −$700.6M, Jun 24 −$498.8M) but reversed sharply: Jun 26 saw the 30-day’s single largest outflow at +$864.7M.
Week 4 — June 27 – July 3, 2026
| Day | Deposits | Withdrawals | Net | Wallets |
|---|---|---|---|---|
| Jun 27 (Fri) | $670.3M | $746.9M | +$76.6M | 19,430 |
| Jun 28 (Sat) | $638.5M | $849.5M | +$211.0M | 19,322 |
| Jun 29 (Sun) | $494.0M | $456.2M | −$37.7M | 6,112 |
| Jun 30 (Mon) | $4.46B | $3.62B | −$841.6M | 38,925 |
| Jul 1 (Tue) | $2.45B | $2.39B | −$62.9M | 27,730 |
| Jul 2 (Wed) | $3.18B | $3.61B | +$432.5M | 25,900 |
| Jul 3 (Thu) | $2.23B | $2.08B | −$151.5M | 23,690 |
Week 4 net: −$373.6M. End-of-quarter compression on Jun 30 (−$841.6M inflow) offset by Jul 2 outflow (+$432.5M) and the Jun 27–28 outflow cluster.
Final 2 days — July 4–5, 2026
| Day | Deposits | Withdrawals | Net | Wallets |
|---|---|---|---|---|
| Jul 4 (Fri) | $681.9M | $621.7M | −$60.2M | 16,106 |
| Jul 5 (Sat) | $224.5M | $198.3M | −$26.2M | 6,159 |
Jul 4–5 reflect a US holiday weekend: suppressed volume at $906.4M combined, only 22,265 wallets across both days. Net inflow of −$86.4M — directionally flat.
Daily net exchange flow — 30-day window (June 6 – July 5, 2026)
Source: Deep Blue Alpha tracked wallets · June 6 – July 5, 2026 · Green = net outflow (withdrawals exceeded deposits). Red = net inflow (deposits exceeded withdrawals).
What the net flow means: deposits vs withdrawals
Exchange flow data sits at the intersection of on-chain transparency and market intent. Unlike most blockchain metrics, it carries a relatively clear behavioral interpretation — albeit one that comes with important caveats.
Deposits (inflows to exchanges)
A deposit moves crypto from a private wallet to an exchange hot wallet. The wallet holder is placing their assets on an exchange, where they can be sold on a centralized order book. Historically, sustained periods of elevated deposits have corresponded with distribution phases — the 2021 cycle top and 2022 bear market saw persistent net inflows. However, deposits also fund derivatives margin, exchange-based staking, earn programs, and inter-exchange arbitrage. Not every deposit is a sell.
Withdrawals (outflows from exchanges)
A withdrawal moves crypto from an exchange wallet to a private wallet. The holder is removing assets from the immediate reach of sell-side order books. Historically, sustained periods of elevated withdrawals have corresponded with accumulation phases — the post-FTX exchange exodus in late 2022 and the 2023 recovery saw persistent net outflows. However, withdrawals also move assets to DeFi protocols, bridging contracts, and institutional custodians. Not every withdrawal is a long-term hold.
The −$2.26B net in context
The −$2.26B net inflow over 30 days represents approximately 3.3% of total two-way flow ($135.2B combined deposits + withdrawals). In other words, 96.7% of the flow was symmetrical — for every dollar deposited, $0.97 was withdrawn. The net bias toward exchanges was small relative to the total capital moving through them. This does not look like a capitulation event (where net inflows spike to 10%+ of total flow) or a sustained accumulation phase (where net outflows persist for weeks). It looks like an active market with a mild deposit bias.
The numbers in perspective: The −$2.26B net inflow over 30 days averages to approximately −$75M per day. On days where total flow exceeded $5B, the net bias was functionally a rounding error. The market structure over this period reads as “active and balanced with brief directional spikes” rather than “persistent accumulation” or “persistent distribution.”
Weekend vs weekday: the volume pattern
One of the clearest signals in the 30-day dataset is the weekend/weekday divergence. It holds consistently across all four weekends in the sample and reveals the degree to which institutional and high-volume activity concentrates on weekday trading hours.
Weekday vs weekend exchange flow comparison
| Metric | Weekday Average | Weekend Average | Ratio |
|---|---|---|---|
| Daily deposits | $2.68B | $787M | 3.4x |
| Daily withdrawals | $2.54B | $714M | 3.6x |
| Daily total flow | $5.22B | $1.50B | 3.5x |
| Active wallets | ~23,600 | ~13,700 | 1.7x |
| Avg daily net | −$139M | −$73M | — |
Weekday flow averages 3.5x weekend flow by dollar volume, but only 1.7x by wallet count. The implication: weekday participants are not just more numerous — they move substantially larger amounts per wallet. The average weekday deposit or withdrawal per wallet is roughly 2x the weekend average. This is consistent with institutional or algorithmic activity that operates on business-day schedules.
The weekend low-water marks in this dataset:
- June 29 (Sunday): $494.0M deposits, $456.2M withdrawals, 6,112 wallets — the quietest day
- June 14 (Saturday): $978.1M deposits, $928.9M withdrawals, 14,619 wallets
- July 5 (Saturday): $224.5M deposits, $198.3M withdrawals, 6,159 wallets (US holiday weekend)
Contrast with the weekday high-water marks:
- June 30 (Monday / quarter-end): $4.46B deposits, $3.62B withdrawals, 38,925 wallets
- June 12 (Thursday): $4.09B deposits, $3.63B withdrawals, 23,628 wallets
- June 9 (Monday): $3.42B deposits, $3.29B withdrawals, 24,339 wallets
The 18x volume difference between the quietest day (Jul 5 at $422.8M total) and the busiest day (Jun 30 at $8.08B total) underscores how uneven exchange activity is across the week. Any analysis that averages flow data without adjusting for the weekend effect risks misreading a quiet Saturday as a signal rather than a structural pattern.
Practical implication: When evaluating exchange flow for directional signals, compare weekdays to weekdays and weekends to weekends. A $1B deposit day on a Saturday is unusual; a $1B deposit day on a Tuesday is below average. The weekend floor is not a signal — it is structural.
Active wallet trends
The number of unique wallets interacting with exchange addresses per day ranged from 6,112 to 38,925 — a 6.4x spread. Wallet count correlates with volume but not perfectly: some high-volume days achieve their totals through fewer wallets making larger individual moves, while other days see broad participation at more modest per-wallet sizes.
Active wallet distribution by day-of-week
| Day | Avg Wallets | Avg Volume | Avg per Wallet |
|---|---|---|---|
| Monday | 26,730 | $5.23B | $196K |
| Tuesday | 24,530 | $4.64B | $189K |
| Wednesday | 25,200 | $5.12B | $203K |
| Thursday | 22,650 | $4.25B | $188K |
| Friday | 16,600 | $2.63B | $158K |
| Saturday | 14,470 | $1.79B | $124K |
| Sunday | 14,880 | $2.23B | $150K |
Note: averages computed from the 30-day sample (June 6 – July 5, 2026). Day-of-week assignment based on UTC. Individual days can deviate significantly from averages.
Monday shows the highest average wallet count (26,730) and highest average volume ($5.23B), consistent with the start-of-week institutional pattern. The mid-week plateau (Tuesday–Thursday) holds around 22,000–25,000 wallets. Friday begins the weekend fade, dropping to ~16,600 wallets. The per-wallet average moves from $196K on Monday down to $124K on Saturday — a 37% decline in average transaction size on weekends, reinforcing that the weekend reduction is driven by institutional absence, not just fewer participants.
The June 30 outlier (38,925 wallets) stands far above any other day in the sample. End-of-quarter rebalancing brought in participants who were inactive during the rest of the window — likely fund allocators, treasury managers, and algorithmic strategies that execute on a quarterly cadence.
Notable flow events in the 30-day window
June 26: The largest single-day outflow (+$864.7M)
June 26 recorded $2.94B in deposits against $3.80B in withdrawals — a +$864.7M net outflow across 28,240 wallets. This was the strongest “accumulation signal” day in the sample: withdrawals exceeded deposits by 29.4%. The day followed a period of heavy inflows (Jun 22 −$700.6M, Jun 24 −$498.8M), suggesting a sharp reversal in behavior. Whether the outflow represented buying-the-dip accumulation, self-custody rotation after a selling event, or structural rebalancing is not determinable from flow data alone.
June 30: Quarter-end compression (−$841.6M inflow)
The final day of Q2 2026 saw $4.46B in deposits and $3.62B in withdrawals — an −$841.6M net inflow. The 38,925 active wallets were 55% above the next-highest day. Quarter-end is a structural flow event: funds rebalance, custodians square books, derivatives roll, and tax-lot harvesting concentrates. The directional signal on quarter-end days is mechanically noisy — the flow reflects calendar-driven operations as much as (or more than) market conviction.
July 2: Mid-week outflow reversal (+$432.5M)
Just two days after the quarter-end inflow spike, July 2 saw a sharp reversal: $3.18B in deposits against $3.61B in withdrawals, a +$432.5M net outflow from 25,900 wallets. The pattern — heavy inflows on a structural calendar day immediately followed by heavy outflows — is consistent with capital being moved to exchanges for quarter-end operations and then moved back to private custody once those operations completed.
June 8: The anomalous Sunday (+$445.9M outflow)
June 8 broke the weekend pattern with $3.39B in deposits and $3.84B in withdrawals — a +$445.9M net outflow from 25,329 wallets. This was both the highest-volume weekend day in the sample and the only weekend day with a large net outflow. Weekends typically show compressed, balanced flow; June 8 looked like a weekday both in volume and in wallet count. The specific catalyst is not visible in flow data, but the deviation from the structural weekend pattern is notable.
How to track exchange flows in real time
Every data point in this analysis was sourced from Deep Blue Alpha’s tracked wallet infrastructure, which monitors CEX deposit and withdrawal activity across 27,000+ Ethereum whale wallets in real time.
The live flow board
The What Are Whales Buying Today page provides a continuously updated ranked board of net exchange flows — tokens sorted by net direction and magnitude. The same underlying data that produced this 30-day snapshot updates every block on the live surface.
The whale feed
The live whale feed shows every tracked CEX deposit and withdrawal as it happens: direction, size, wallet, and exchange identified. Filter by CEX_DEPOSIT or CEX_WITHDRAW to isolate exchange flow activity from DEX trades.
Individual wallet pages
For any wallet in the leaderboard, the individual wallet page shows the full deposit/withdrawal history — how often the wallet interacts with exchanges, typical sizes, preferred exchanges, and net direction over time. This allows you to track specific whale wallets’ exchange behavior rather than just the aggregate.
This article is a snapshot. The 30-day window analyzed here (June 6 – July 5, 2026) is already aging as new blocks are produced. For the current state of exchange flows, the live data at deepbluealpha.io/whales-buying-today is always more current than any published analysis.
Bottom line
The 30-day exchange flow picture ending July 5, 2026 showed $68.7B in deposits versus $66.5B in withdrawals — a −$2.26B net inflow to exchanges. Deposits exceeded withdrawals on 22 of 30 days. However, the net bias represented only 3.3% of total two-way flow, and 8 days recorded significant net outflows (the largest at +$864.7M on June 26). The 30-day net was not a steady trend; it was the sum of sharp daily reversals in both directions.
The weekday/weekend pattern was the most consistent structural feature in the data. Weekday flow averaged 3.5x weekend flow by dollar volume, weekday wallets moved 2x more per transaction, and the institutional mid-week plateau (Monday–Thursday) dominated total volume. The June 30 quarter-end spike (38,925 wallets, $8.08B total flow) was the single busiest day and likely reflected mechanical calendar-driven rebalancing rather than directional market conviction.
What this data cannot tell you is what happens next. A −$2.26B net inflow over 30 days is not historically extreme in either direction. It does not confirm sustained accumulation, nor does it signal imminent selling pressure. The market over this window looks like an active, roughly balanced market with a mild deposit bias and brief violent reversals. The flow data shows what wallet holders did with their capital. What that behavior means for future price action is not something flow data alone can determine.
The live data is at deepbluealpha.io/whales-buying-today. The snapshot you just read is already aging. The tracker is not.
Track exchange flows in real time
Deep Blue Alpha monitors CEX deposits and withdrawals across 27,000+ Ethereum whale wallets, updated every block. See the same data used in this analysis — live net flow, per-wallet exchange history, and directional breakdowns.
Open the live flow board →